Germany

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S&P Global: Eurozone, German and French PMIs fall more than expected

The S&P Global Purchasing Managers’ Index (PMI) for the eurozone manufacturing and services sectors fell to 51.9 in June 2022 from 54.8 in May. Chris Williamson, the chief business economist at S&P Global Markets Intelligence, wrote, “The seasonally adjusted S&P Global Eurozone PMIĀ® Composite Output Index fell from 54.8 in May to 51.9 in June, …

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German Bundesbank Cuts GDP Forecast for 2022 by More than Half

The German Bundesbank today (June 10) lowered its forecasts for German economic growth and expects inflation to rise significantly. Rising food and fuel prices are affecting household purchasing power and confidence. The Bundesbank expects inflation to rise by 7.1% in 2022, higher than the December forecast of 3.6% and raises the inflation rate for 2023 …

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German Factory Orders Fell More Than Expected in April After Weak Demand

The German Federal Statistical Office reported that German industrial orders fell by a seasonally adjusted 2.7% in April. This was an increase after a 4.2% decline in March, caused by weak demand and growing uncertainty about the future economic outlook. New orders in industry fell for the third month in a row. This contrasts with …

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German Exports Up 4.4% in April – Trade with Russia Continues to Decline

According to the Federal Statistical Office, German exports rose by 4.4% in April, which was stronger than expected, while imports increased by 3.1%. Germany’s exports to Russia fell 10% in April, following a 60% drop in March after the West imposed sanctions on Moscow over its invasion of Ukraine In April, Germany recorded a seasonally …

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The German Manufacturing and Services PMI rose slightly, while the Eurozone Manufacturing and Services PMI fell short of Expectations in May

Germany’s purchasing managers’ index (PMI) for the services sector was 56.3 in May, down from 57.6 in March, according to S&P Global. The index above 50 indicates that German economic activity is continuing to expand. This was driven by a continued recovery in the services sector, resulting in German economic activity expanding further in May. …

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German Business Climate Index Rises Despite Several Problems

The German Institute for Economic Research (Ifo) said its business climate index rose to 99.5 in May from 97.3 in April. Companies in Germany are increasingly satisfied with their current business situation. Despite many problems such as inflation, bottlenecks in production parts, and the Ukraine war. However, the business expectations index was 86.9, almost unchanged …

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